Posted on 05/15/2019 10:56:47 AM PDT by DoodleDawg
Late last year, in a Miami conference room, a consultant for President Trump’s company said business at his prized 643-room Doral resort was in sharp decline.
At Doral, which Trump has listed in federal disclosures as his biggest moneymaker hotel, room rates, banquets, golf and overall revenue were all down since 2015. In two years, the resort’s net operating income — a key figure, representing the amount left over after expenses are paid — had fallen by 69 percent. Even in a vigorous economy, the property was missing the Trump Organization’s internal business targets; for instance, the club expected to take in $85 million in revenue in 2017 but took in just $75 million.
“They are severely underperforming” other resorts in the area, tax consultant Jessica Vachiratevanurak told a Miami-Dade County official in a bid to lower the property’s tax bill. The reason, she said: “There is some negative connotation that is associated with the brand.”
(Excerpt) Read more at msn.com ...
Technically, he does take a salary of $400,000 annually.
However, he then donates it ALL to various good use around the USA.
He also pays taxes on that salary.
I’m not a golfer, but I’ve read that the golf course is not a real favorite of the players. Any truth to this? Maybe a course redesign is in order?
Interesting. Thanks.
Some observations.
1. No way Doris and Alfred could drain that swamp today.
2. But maybe Donald can!
Local governments typically assess fees for annual business licenses based on revenue.
In some areas you are assessed a business tax include in your property tax assessment. The may be what they are appealing based on the loss of the Doral. Years ago I was part of a group that mounted a successful repeal of the business tax in our area.
And there would be an Astroglide in every room.
The club expected to take in $85 million in revenue in 2017 but took in just $75 million.
Just. I wish I made ‘Just’.
I love your spirit!!
That’s what we have been doing....staying at Trump properties, whenever possible.
He’s surely finished now.....
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